10-26-2011, 06:38 AM
AoA
I work as a Contractor to provide Software services to a UK company under a business name which appears on my NTN certificate.
The amount is paid to my business account.
My question is, how to I fill out the IT form to claim the tax exemption under clause 133 Part I 2nd schedule "Export of Computer Software", which provides 0% tax on IT Services export.
On "INDIVIDUAL-AOP (1 of 2)" tab, I have put all my income on Row#8 (ie "Other Revenues ...")
I have put the same Amount on Row#29 (ie Business Income Exemption)
But this does not offset the Row#33 (Taxable Income) to ZERO.
Please provide some guidence.
The ohter question I have is
I receive the income in my GBP account which is in my business name. At what FX rate should I report that income in Rupees on the IT form. Should it be todays rate or the for the date on which remittance was received
Thanks a lot
I work as a Contractor to provide Software services to a UK company under a business name which appears on my NTN certificate.
The amount is paid to my business account.
My question is, how to I fill out the IT form to claim the tax exemption under clause 133 Part I 2nd schedule "Export of Computer Software", which provides 0% tax on IT Services export.
On "INDIVIDUAL-AOP (1 of 2)" tab, I have put all my income on Row#8 (ie "Other Revenues ...")
I have put the same Amount on Row#29 (ie Business Income Exemption)
But this does not offset the Row#33 (Taxable Income) to ZERO.
Please provide some guidence.
The ohter question I have is
I receive the income in my GBP account which is in my business name. At what FX rate should I report that income in Rupees on the IT form. Should it be todays rate or the for the date on which remittance was received
Thanks a lot
